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" If the payment exceeds the interest, the surplus goes toward discharging the principal, and the subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not... "
Ray's New Higher Arithmetic: A Revised Edition of the Higher Arithmetic - Page 261
by Joseph Ray - 1880 - 408 pages
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The Prussian Calculator: By which All Business Calculations are Performed by ...

Isaac A. Clark - Arithmetic - 1846 - 218 pages
...on the balance of the principal remaining due. If the payment be less than the interest, the surplus interest must not be taken to augment the principal;...interest continues on the former principal until the perioj when the payments taken together exceed the interest then di:e, and then the surplus goes towards...
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Higher Arithmetic; Or, The Science and Application of Numbers: Combining the ...

James Bates Thomson - Arithmetic - 1848 - 434 pages
...principal, and the subsequent interest is to be computed on the balance of principal remaining due. III. "If the payment be less than the interest, the surplus...due, and then the surplus is to be applied towards discJiarging the principal ; and interest is to be computed on the balance as aforesaid." Note. —...
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Rainey's Improved Abacus: An Explanatory Treatise on the Theory and Practice ...

Thomas Rainey - Arithmetic - 1849 - 334 pages
...and the subsequent interest is to be computed on the balance of the principal remaining due. III. " If the payment be less than the interest, the surplus...interest due, and then the surplus is to be applied toward discharging the principal ; and interest is to be computed on the balance as aforesaid." A....
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Higher Arithmetic: Designed for the Use of High Schools, Academies, and ...

George Roberts Perkins - Arithmetic - 1849 - 356 pages
...principal, and the subsequent interest is to be computed on the balance of the principal remaining due. If the payment be less than the interest, the surplus...until the period when the payments, taken together, equal or exceed the interest due, and then the surplus is to be applied towards discharging the principal...
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Rainey's Improved Abacus: An Explanatory Treatise on the Theory and Practice ...

Thomas Rainey - Arithmetic - 1849 - 320 pages
...; and the subsequent interest is to be computed on the balance of the principal remaining due. III. "If the payment be less than the interest, the surplus...to augment the principal ; but interest continues en the former principal until the period when the payments, taken together, exceed the interest due,...
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Higher Arithmetic: Designed for the Use of High Schools, Academies, and ...

George Roberts Perkins - Arithmetic - 1850 - 356 pages
...principal, and the subsequent interest is to be computed on the balance of the principal remaining due. If the payment be less than the interest, the surplus...until the period when the payments, taken together, equal or exceed the interest due, and then the surplus is to be applied towards discharging the principal...
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An Elementary Arithmetic Designed for Academies and Schools: Also Serving as ...

George Roberts Perkins - Arithmetic - 1851 - 356 pages
...principal, and the subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not IK; taken to augment the principal; but interest continues on the former principal until the period...
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Stoddard's Practical Arithmetic

John Fair Stoddard - Arithmetic - 1852 - 320 pages
...principal, and the subsequent interest is to be computed on the balance of the principal remaining due. If the payment be less than the interest, the surplus...payments taken together exceed the interest due, and then t/te surplus is to be applied towards discharging the principal ; and interest is to be computed on...
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Michigan Reports: Cases Decided in the Supreme Court of Michigan, Volume 82

Michigan. Supreme Court, Randolph Manning, George C. Gibbs, Thomas McIntyre Cooley, Elijah W. Meddaugh, William Jennison, Hovey K. Clarke, Hoyt Post, Henry Allen Chaney, William Dudley Fuller, John Adams Brooks, Marquis B. Eaton, Herschel Bouton Lazell, James M. Reasoner, Richard W. Cooper - Law reports, digests, etc - 1891 - 780 pages
...principal, and the subsequent interest is to be computed on the balance of the principal remaining due. If the payment be less than the interest, the surplus...interest must not be taken to augment the principal, but the interest continues on the former principal until the period when the payments, taken together,...
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Merchants' Magazine and Commercial Review, Volume 27

Commerce - 1852 - 780 pages
...principal, and the subsequent interest is to be computed on the balance of principal remaining due. If the payment be less than the interest, the surplus of interest must not bo taken to augment the principal ; but interest continues on the former principal until the period...
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